Finance ministry urged to pay attention to modernizing technical revenue collection

13/06/2024 15:39
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KPL KPL) Mr. Sanya Praseuth, member of the National Assembly for Savannakhet Province, has called on the Ministry of Finance to attach attention to modernizing the collection of revenues from technical services by making it bank-based.

(KPL) Mr. Sanya Praseuth, member of the National Assembly for Savannakhet Province, has called on the Ministry of Finance to attach attention to modernizing the collection of revenues from technical services by making it bank-based.

Mr. Sanya Praseuth said at the ongoing 7th Ordinary Session of the National Assembly on Jun 11 that charging fees for technical services using a banking system will increase revenues like the Ministry of Finance has already experienced over the past years.  

“Over recent years, the Ministry of Finance has been active in revenue collection and this is represented in its beyond-expectation achievements. The modernization in the finance sector has made a leapfrog achievement, improving revenue collection significantly,” said Mr. Sanya Praseuth. 

He also pointed out some challenges the Ministry of Finance needs to address. He noted that some businesses fail to apply value added taxes to the prices of their goods and services. “Some foreign companies fail to comply with VAT requirements. If all stores provide cooperation, I believe that revenues will definitely increase.”

KPL

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